Practical money management for accountants
Steve Pipe outlines nine proven ways to eliminate debtors, work in progress and low profits.
Ultimately the primary sustainable and non repayable source of cash for any business, including accountancy practices, is making profitable sales and getting paid for them. As a result there are two main sustainable ways to improve your cash position:
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Thanks Spinone
Thanks for your kind words.
I too am surprised but certainly not disheartened - since the readership figure is very high.
One comment I received directly from a reader may account for it. She said "I am a bit embasrraed to admit it, but your article made me realise that I wasn't actually very good at managing my own money. But I will definitely be making some changes now!"
Perhaps others are afraid to admit it too!
STEVE
PS The offer of free guidance notes and resources made in my first comment above is still open, by the way, to anyone who also wants to improve their cashflow, profits and lockup
Virtual FD service
… I forgot to say, if you want details of exactly how Woods Squared gets 17% of its clients to pay an average of £25,000 for virtual FD services please email me with your details and I will send you a case study I wrote up after interviewing them in December 2009.
-- Steve Pipe FCA - Author of the White Paper "The Proactive Accountant" and adviser to over 200 leading UK accounting practices.
Some extra details that will really help
Steve Pipe (the article's author) here...
... I forgot to say that if you found my above article useful, but would like some more detailed guidance notes, please email me at steve@avn.co.uk and I will send you all of the following:
steve@avn.co.uk